realtor.com - A recent editorial in the New York Times focused on homeownership and wealth creation, drawing on research from the Joint Center for Housing Studies at Harvard University and concluding that “as a means to building wealth, there is no practical substitute for homeownership.”

But just why is homeownership so important to building wealth? Here’s what the researchers at Harvard found in their 2013 research, and what it means for you today.

zillow.com - Purchasing a home is an exciting time, especially for first-time buyers. However, the financial commitment is sometimes overwhelming.

Beyond the standard mortgage, taxes and insurance calculations, homeowners inevitably face unexpected fees, repairs and lifestyle adjustments when settling into their new homes. We asked a few financial bloggers to share their experiences and advice on the expenses of buying and owning homes.

zillow.com - Since buying a home is one of the largest purchases you’ll ever make, you need to enter the process with your finances in order. Or, what Barry Zigas, director of housing policy for the Consumer Federation of America, calls a “preflight check.”

Before you get your heart set on the home with the big yard or the condo in the city, you should take steps to demonstrate you have a stable financial situation and are a serious buyer. By doing a little financial housekeeping, it will help ensure your dreams of homeownership become reality.